$ 95,067.4
BTC
0.80 %
$ 1,805.23
ETH
0.55 %
$ 0.7004
ADA
-0.07 %
$ 603.18
BNB
-0.75 %
$ 147.45
SOL
0.52 %

Vikram
Nov 15, 2021

AUDIO Technical Analysis: Breakout Aims at $5 Mark Within Days

AUDIO
The AUDIO coin price finally finds bullish momentum and approaches the resistance trendline. Will it be enough for a bullish breakout?

Audius allows users to share and monetize content with others. Since its inception, the project has seen a great deal of growth and boasts many users. Audio is the native token of Audius. It can be used to manage governance, unlock badges, artist tokens, and reward nodes for discovery.

Let us now take a deep look into the technical analysis of Audius.

Past Performance of AUDIO

After doubling its price in August, the AUDIO token has been in a retracement phase resulting in the generation of a resistance trend line in the daily chart. The constant support from the $1.89 mark helps sustain the price above. However, the multiple attempts to rise above the trend line have gone wasted. 

TradingView Chart

AUDIO Technical Analysis

The recent increase in the buying pressure evident by the two strong bullish candlesticks formation in a row increases the chances of a bullish breakout. Moreover, the support zone near the $2.25 mark can help form higher lows.

As per the Pivot Points, the uptrend upon trend line breakout will face resistance near the $2.75 and $3.25 marks. However, if the price shows retracement, a downfall to $2.25 or $1.75 is possible. 

The RSI slope rides above the central line in the daily chart. Moreover, the slope managed to sustain above the oversold zone despite the retracement in the past few weeks. Thus, the RSI indicator generates a buy signal for the AUDIO token.

The MACD and signal lines give a bullish crossover in the daily chart, indicating the breakout of the resistance trend line. Moreover, a slight divergence was visible at the last two dips at the $1.89 mark. Thus, the MACD indicator gives a buy sign.

The crucial EMAs 50, 100, and 200 provide constant support to the falling prices within the pattern. Moreover, the EMAs maintain bullish alignment with the price rising higher above them. 

Upcoming Trend

As per the technical analysis of Audius, the upcoming trend of the AUDIO coin indicates the breakout of the resistance trend line. Assuming the trend line and the $1.89 mark form a descending triangle, a breakout can drive the prices higher to the $5 mark.

AUDIO Technical Analysis: Breakout Aims at $5 Mark Within Days
Vikram is a technical analyst with several years of experience in the crypto market & Indian Equity and F&O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

Related News

XRP Trading Sees Sharp Increase with $2.17 Billion Inflow
LIVE CRYPTO NEWS

XRP Trading Sees Sharp Increase with $2.17 Billion Inflow

XRP’s trading activity has recently experienced a significant surge, fueled by a substantial inflow of “hot capital,” representing short-term inves ...
Sujit Kumar2 hours ago
Bitcoin's Golden Cross Signals Potential Bullish Trend
LIVE CRYPTO NEWS

Bitcoin's Golden Cross Signals Potential Bullish Trend

Bitcoin (BTC) is on the verge of a “golden cross,” a bullish technical pattern that occurs when a short-term moving average crosses above a long-term mov ...
Ajay Agarwal18 hours ago
Ripple CEO Addresses SWIFT's Relevance in the Age of XRP
LIVE CRYPTO NEWS

Ripple CEO Addresses SWIFT's Relevance in the Age of XRP

Ripple CEO Brad Garlinghouse has recently made a significant statement regarding the future of SWIFT, the traditional system for international money transfers, and t ...
Sujit KumarApr 29, 2025
FTX Pursues Legal Action to Maximize Creditor Repayments
LIVE CRYPTO NEWS

FTX Pursues Legal Action to Maximize Creditor Repayments

Efforts to recover assets and increase repayment amounts for creditors of the collapsed cryptocurrency exchange FTX are intensifying. A series of new lawsuits have b ...
Ajay AgarwalApr 29, 2025
PinkSale AutoStakeYield Fair Launch ad
Coinbase Urges SEC to Ease Crypto Ban on Employees
LIVE CRYPTO NEWS

Coinbase Urges SEC to Ease Crypto Ban on Employees

Coinbase, a leading cryptocurrency exchange, is advocating for the U.S. Securities and Exchange Commission (SEC) to reconsider its stringent regulations that restric ...
Sujit KumarApr 28, 2025